Accreditation and CLE Rules for Illinois

National Academy of Continuing Legal Education is an Accredited CLE Provider in Illinois. The MCLE Board of the Supreme Court of Illinois maintains an Accredited Provider directory on their website. Illinois attorneys can satisfy all CLE requirements through Online, CD-ROM, DVD and Audio CD formats.

The MCLE Rules require the completion of 30 hours of CLE activity in a two-year reporting period. An attorney’s reporting period depends on the first letter of the attorney’s last name as it appears on the master roll of attorneys. Illinois attorneys with last names beginning with A-M are due on June 30 of each even numbered year and attorneys with last names beginning N-Z are required to complete their requirement on each odd numbered year.

Attorneys in the July 1, 2016 through June 30, 2018, two-year reporting periods must complete 30 total hours, including at least six hours of professional responsibility (PR).

Beginning with the July 1, 2017 through June 30, 2019 and July 1, 2018 through June 30, 2020 two-year reporting periods, attorneys must continue to complete 30 total hours, including at least six hours of PR. However, of those six hours, Illinois attorneys must complete one hour of diversity/inclusion PR CLE and one hour of mental health/substance abuse PR CLE. Please refer to the Commission on Professionalism's FAQs for additional information.”

Attorneys must self-report completion of CLE to the MCLE Board of Supreme Court of Illinois. The Certificate of Completion issued by National Academy may be used to verify attendance. Up to 10 hours, including ethics hours may be carried over to the next reporting period.

The deadline to report is 31 days after the end of the attorney's reporting period. Attorneys can Report Online.

Description

RMBS, CMBS, CDOs, SIVs can seem like alphabet soup yet they play an integral part of the global economy and capital markets. Some will even allege that these sophisticated financial products were responsible for the credit crisis that nearly destroyed the global economy. What are these structured products, how do they work and who created them?

This informative CLE course, presented by New York attorney and subject matter expert Jack Chen, explains the essential characteristics of structured finance and then provides a survey of the different types of asset backed securities in the market.

The course explains the roles of originators, servicers, trustees, managers and rating agencies while reviewing sample capital stacks and cash flows for each type of transaction and discuss the areas of laws that any practitioner needs to know in working in this area.

Lecturer Bio

Jack Chen, Esq.

Jack is a consultant with expertise in the capital markets, corporate securities, structured finance, asset backed securities, ratings, real estate investments and derivatives. He currently provides advisory and consultancy services and has testified as an expert witness in federal court in a case involving ratings and complex financial products. He is a recognized expert in structured finance where he has over 15 years' of experience. His product expertise includes derivatives such as credit default swaps, interest rate derivatives and total return swaps, cash and synthetic collateralized debt obligations, collateralized loan obligations, derivative product companies and structured investment vehicles.

Jack began his career as an associate at the white shoe law firm of Willkie Farr & Gallagher and then joined the prestigious law firm of Sullivan & Cromwell with a practice in corporate law, securities and a concentration in structured finance. He left law to rate derivatives and structured products at Moody's Investors Service and then served as the Chief Operating Officer of HillMark Capital and then of Centerline Financial before founding his own consulting firm, Pronetik, providing litigation support, serving as an expert witness and supervising quantitative analyses. Jack has appeared on the CBS Evening News and was featured as an expert on 3-part documentary titled “Age of Gold” for the “Docu-Prime” series of South Korean television network EBS. He has also been quoted or cited in a number of newspapers and trade journals, including Wall Street Journal, Business Week, Bloomberg News, Market Watch News Hub, Risk, Creditflux, St. Petersburg Times, Asset-Backed Alert and Structured Credit Investor.

Jack received his undergraduate degree from Columbia College, Columbia University and his legal degree with honors from Fordham University School of Law where he was Senior Articles Editors of the Fordham Law Review.

Keep me logged in on this computer

Check this option if you would like us to remember you on this computer so you do not have to log in each time you want to access your account.
Do not check this box if you are on a public or shared computer.

Chat with CLE Specialist

Please provide an email address and phone number to continue.

Your message has been sent to one of our CLE specialists. We will contact you shortly.